Section 6 in The Foreign Trade (Regulation) Rules, 1993
6. Conditions of [license, certificate scrip or any instrument bestowing financial or fiscal benefits.]
(1)It shall be deemed to be a condition of every [license, certificate scrip or any instrument bestowing financial or fiscal benefits] [Substituted by Notification No. G.S.R. 300(E), dated 17.4.2015 (w.e.f. 30.12.1993).] for export that :-(i)no person shall transfer or acquire by transfer any [license, certificate scrip or any instrument bestowing financial or fiscal benefits] [Substituted by Notification No. G.S.R. 300(E), dated 17.4.2015 (w.e.f. 30.12.1993).] issued by the licensing authority except in accordance with the provisions of the Policy;(ii)the [goods or services or technology] [Substituted by Notification No. G.S.R. 300(E), dated 17.4.2015 (w.e.f. 30.12.1993).] for the export of which the [license, certificate scrip or any instrument bestowing financial or fiscal benefits] [Substituted by Notification No. G.S.R. 300(E), dated 17.4.2015 (w.e.f. 30.12.1993).] is granted shall be the property of the licensee at the time of the export.(2)The licensing authority may issue a [license, certificate scrip or any instrument bestowing financial or fiscal benefits] [Substituted by Notification No. G.S.R. 300(E), dated 17.4.2015 (w.e.f. 30.12.1993).] for import subject to one or more of the following conditions, namely:--(a)that the [goods or services or technology] [Substituted by Notification No. G.S.R. 300(E), dated 17.4.2015 (w.e.f. 30.12.1993).] covered by the [license, certificate scrip or any instrument bestowing financial or fiscal benefits] [Substituted by Notification No. G.S.R. 300(E), dated 17.4.2015 (w.e.f. 30.12.1993).] shall not be disposed of except in accordance with the provisions of the Policy or in the manner specified by the licensing authority in the license;(b)that the applicant for a [license, certificate scrip or any instrument bestowing financial or fiscal benefits] [Substituted by Notification No. G.S.R. 300(E), dated 17.4.2015 (w.e.f. 30.12.1993).] shall execute a bond for complying with the terms and conditions of the [license, certificate scrip or any instrument bestowing financial or fiscal benefits] [Substituted by Notification No. G.S.R. 300(E), dated 17.4.2015 (w.e.f. 30.12.1993).].(3)It shall be deemed to be a condition of every [license, certificate scrip or any instrument bestowing financial or fiscal benefits] [Substituted by Notification No. G.S.R. 300(E), dated 17.4.2015 (w.e.f. 30.12.1993).] for import that-:-(a)no person shall transfer or acquire by transfer any [license, certificate scrip or any instrument bestowing financial or fiscal benefits] [Substituted by Notification No. G.S.R. 300(E), dated 17.4.2015 (w.e.f. 30.12.1993).] issued by the licensing authority except in accordance with the provisions of the Policy;(b)the [goods or services or technology] [Substituted by Notification No. G.S.R. 300(E), dated 17.4.2015 (w.e.f. 30.12.1993).] for the import of which a [license, certificate scrip or any instrument bestowing financial or fiscal benefits] [Substituted by Notification No. G.S.R. 300(E), dated 17.4.2015 (w.e.f. 30.12.1993).] is granted shall be the property of the licensee at the time of import and upto the time of clearance through Customs;(c)the [goods or services or technology] [Substituted by Notification No. G.S.R. 300(E), dated 17.4.2015 (w.e.f. 30.12.1993).] for the import of which a [license, certificate scrip or any instrument bestowing financial or fiscal benefits] [Substituted by Notification No. G.S.R. 300(E), dated 17.4.2015 (w.e.f. 30.12.1993).] is granted shall be new [goods or services or technology] [Substituted by Notification No. G.S.R. 300(E), dated 17.4.2015 (w.e.f. 30.12.1993).], unless otherwise stated in the [license, certificate scrip or any instrument bestowing financial or fiscal benefits] [Substituted by Notification No. G.S.R. 300(E), dated 17.4.2015 (w.e.f. 30.12.1993).];(d)the [goods or services or technology] [Substituted by Notification No. G.S.R. 300(E), dated 17.4.2015 (w.e.f. 30.12.1993).] covered by the [license, certificate scrip or any instrument bestowing financial or fiscal benefits] [Substituted by Notification No. G.S.R. 300(E), dated 17.4.2015 (w.e.f. 30.12.1993).] for import shall not be exported without the written permission of the Director-General.(4)Any person importing [goods or services or technology] [Substituted by Notification No. G.S.R. 300(E), dated 17.4.2015 (w.e.f. 30.12.1993).] from the United States of America in accordance with the terms of the Indo-US Memorandum of Understanding on Technology Transfer shall also comply with all the conditions and assurances specified in the Import Certificate issued in terms of such Memorandum, and such other assurances given by the person importing those [goods or services or technology] [Substituted by Notification No. G.S.R. 300(E), dated 17.4.2015 (w.e.f. 30.12.1993).] to the Government of the United States of America through the Government of India.
